SEC dropped 3years investigation against Stacks being Securities
The SEC has dropped a three-year-old investigation into Hiro Systems, formerly known as Blockstack, which raised $70 million in token sales from 2017 to 2019. This decision follows a history of scrutiny into the decentralized Stacks protocol, initiated in 2018, and marks a significant win for the crypto industry.
Stacks, a layer-2 blockchain supplementing Bitcoin, launched a new version in January 2021 and claimed full decentralization, leading to the SEC dropping charges.
This regulatory victory signals a pro-crypto stance by the U.S., advancing more quickly than anticipated.
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